E-Trade is best known for its brokerage services but it also offers banking services through E-Trade Bank.
You can find higher rates elsewhere, but the banking unit offers competitive yields. Right now, the savings account pays 1.75 percent APY on any balance.
You will need to deposit $100 to open an E-Trade checking account, however, and it won’t pay you any interest.
E-Trade’s checking and savings accounts pair with a highly regarded mobile app. If you also use E-Trade for your investments, the app works with both. In logging into your bank account, you will also see your investing account in the same view.
As a brokerage and bank customer, E-Trade stands out for internal transfers, allowing you to move your money from one account to the other and then invest some or all of your funds immediately. Funds that are transferred to or from an external account are typically available the third day after the request.
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